Letter-to-the-Editor - “New Year’s resolution for college-bound students and their parents: Complete your FAFSA now!”

Dear Editor,

Legend has it the first New Year’s resolution was made in 153 B.C. by the Roman god Janus (for whom January is named), who probably vowed to exercise more.  No word on how Janus did on his resolution, but I’ve got a resolution for college-bound students and their parents that’s simple and may be worth up to $9,278: complete the “FAFSA” now!

The FAFSA - Free Application for Federal Student Aid - is the basic building block in creating a college financial aid package.  The FAFSA determines eligibility for grants, scholarships, loans and work-study programs, and is the essential first step in receiving financial aid from federal, state and private sources. 

Last year, 576,000 Illinois students filed a FAFSA (up 26 percent since 2001), so you don’t want to miss the boat.  The U.S. Department of Education begins accepting FAFSAs on January 1, 2008 for the 2008-09 school year.  Much of the information required on the FAFSA will be in your income tax returns, so combine the two projects.  The FAFSA is available online (http://www.fafsa.ed.gov/) or in paper form, and in Spanish.  This is a “Do-It-Yourself” process that takes about an hour.  Don’t let FAFSA intimidate you; if you’re having problems, call an ISAC counselor (800.899.4722). 

College tuition is still on the rise nationally, as is the amount of student loan debt incurred by college graduates.  By submitting a FAFSA, you become eligible for up to $9,278 in grants - depending on income – from the state’s Monetary Award Program (MAP) and federal Pell grants.  What other New Year’s resolution can do that?  So, in the spirit of Janus, make a resolution that’s easy to keep and will mean a world of difference in college affordability: complete your FAFSA!   For more information about college preparation, visit ISAC’s website (collegezone.com).

Sincerely,

Andrew Davis
Executive Director
Illinois Student Assistance Commission

Confirmation Contact: Trena Sabo, 217.782.6920

About ISAC
The Illinois Student Assistance Commission is the State’s centralized provider of financial assistance aimed at helping students and families access postsecondary education and/or training. Each year, the Commission awards an estimated $400 million in scholarship and grant aid to nearly 185,000 qualified students, and also provides an additional $740 million to borrowers through its student loan programs. The agency offers credit-based alternative loans, a 529 prepaid tuition program known as College Illinois!, and a broad array of outreach and informational services to ensure that families have access to the information they need to pay for a college education. More information is available by calling toll-free 800.899.ISAC (4722) or visiting the agency’s Web site at www.collegezone.com.